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balu736 [363]
3 years ago
14

Mark borrowed $5,500 at 11.5 percent for five years. What is his monthly payment?

Mathematics
2 answers:
olya-2409 [2.1K]3 years ago
5 0
Use the formula of the present value of an annuity ordinary which is
Pv=pmt [(1-(1+r/k)^(-kn))÷(r/k)]
Pv present value 5500
PMT monthly payment?
R interest rate 0.115
K compounded monthly 12
N time 5years
Solve the formula for PMT
PMT=Pv÷ [(1-(1+r/k)^(-kn))÷(r/k)]
PMT=5,500÷((1−(1+0.115÷12)^(
−12×5))÷(0.115÷12))
=120.95

So the answer is C

Hope it helps!
SCORPION-xisa [38]3 years ago
3 0

Answer:

C option is correct

Step-by-step explanation:

Given: payment borrowed (P)= $5,500

            rate (r)=11.5 or 0.115

           Time(t)= 5 years

           Compound monthly(k)=12

To find : Monthly payment (M)

Formula used :  M= P/(\frac{1-(1+\frac{r}{k})^{-kn}}{\frac{r}{k}})

 Solution :     M= 5500/(\frac{1-(1+\frac{0.115}{12})^{-60}}{\frac{0.115}{12}})

                by solving we get, M =$120.95

therefore, option C is correct

                 


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Answer:

B

Step-by-step explanation:

The transformation is proved through comparing the size of the bigger triangle to the smaller triangle in the individual sides. So the size of A F/ AB should be equal to AG / AC due to transformations making A F and AG the same times longer as AC and AB. By performing those calculations, you get 3.

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mama giraffe: x

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The average of 6 numbers is 15. The average decreases by 1 when the 7th
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Answer:

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6 0
3 years ago
1.Let x = 6.
spayn [35]

Answer:

1: 6

2: 1,2,3

3: 4m-1>5m-4

4: Not enough data

5: n = 11

6: The ceiling is lower than 3m

7: G = 7

8: C = 18

9: p + 18 = 41; p = 23

10: D = 100t

Step-by-step explanation:

Question 1:

5*2+x/2-7

5*2+6/2-7

10+6/2-7

10+3-7

13-7

6

Question 2:

4*2<16

8<16 True

4*1<16

4<16 True

4*3<16

12<16 True

4*4<16

16<16 False

Question 3:

Let's plug in 1 for m

4*1-1____5*1-4

4-1_____5-4

3_____1

3>1

Question 4:

You did not give an equation, so I cannot answer.

Question 5:

2*11 + 5 =27

22 + 5 = 27

27 = 27

So n = 11

Question 6:

x<3

The ceiling is lower than 3m because x<3

Question 7:

5.1g = 35.7

5.1g/5.1=35.7/5.1

g = 7

Check: 5.1 * 7 = 35.7

Question 8:

36 + c = 54

36 + c -36 = 54 - 36

c = 18

Check: 36 + 18 = 54

Question 9:

p + 18 = 41; p = 23 is correct because the number of paperback books plus the number of hardcover books would equal the total number of books sold. Check: 23 + 18 = 41

Question 10:

d=100t is correct because each time t goes up one it goes up 100. Example: if it is at one hour, than it is 100, if it is at 3 hours, than d = 100*3 = 300, which is the same pattern as the table.

Hope this helps!

5 0
3 years ago
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